(Le Bétail à L’auge, by Charles Emile Jacques, Musée d’Orsay, Paris.)
Oxford Life Insurance Company (Phoenix) has signed an agreement to implement EXL’s LifePRO policy administration platform and migrate the carrier’s business from two legacy policy admin systems. Oxford Life will use LifePRO for new business; agent and commission management; policy administration; billing and collections; claims processing; reinsurance; and client management.
“Oxford Life wanted a platform that would support our strategic goals for the future,” comments Mark A. Haydukovich, chairman, president and CEO, Oxford Life. “The LifePRO platform provides the capabilities necessary to support our existing product portfolio and has the flexibility to support those that we are planning to bring to market.”
Other factors influencing Oxford Life’s selection of LifePRO and EXL included what Haydukovich characterizes as a strong user community that advises on ongoing product direction. “We liked that EXL is a market leader with more than 40 customers on the platform,” he adds. “We liked their user friendly screens and tools that enable our team members to better serve our customers.”
The insurer wanted a policy administration platform that was production-proven in the life and annuity market, would reduce the time and effort to get innovative products to market, and provide a feature rich solution to serve their agents and policyholders, according to Tom Organ, VP, EXL. “LifePRO will streamline Oxford’s IT environment and position them for growth,” he asserts.
Founded in 1965, Oxford Life Insurance Company and its subsidiaries specialize in providing final expense, annuities, and Medicare supplement products to the rapidly expanding senior market through independent marketing organizations and general agents. The company is a subsidiary of AMERCO, the parent company of U-Haul International, Inc., Amerco Real Estate Company and RepWest Insurance Company. North American Insurance Company and Christian Fidelity Life Insurance Company are strategic subsidiaries of Oxford Life.